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6 Feb 2015
AUD/USD: Bears take back control ahead of key supports
FXStreet (Guatemala) - AUD/USD is trading at 0.7782 with a high of 0.7878 and a low of 0.7778.
AUD/USD is pressured to the downside on the Nonfarm Payrolls among an bearish outlook from the RBA's statement of late, although that came lacking any forward guidance on respect of their interest rate policy. However, due to the downgrade of inflation and growth, markets are anticipating a period of of dovishness in the broader sense.
AUD/USD is supported at the 29th of January low of 0.7720 and this month we have only been as low as 0.7732 thus far. However, below this band of support, we are opening up towards a 50% retracement of the move up from 2001 at 0.7335, as noted by Karen Jones, chief analyst at Commerzbank. "Support at 0.7720 guards the 0.7627 recent low".
AUD/USD is pressured to the downside on the Nonfarm Payrolls among an bearish outlook from the RBA's statement of late, although that came lacking any forward guidance on respect of their interest rate policy. However, due to the downgrade of inflation and growth, markets are anticipating a period of of dovishness in the broader sense.
AUD/USD is supported at the 29th of January low of 0.7720 and this month we have only been as low as 0.7732 thus far. However, below this band of support, we are opening up towards a 50% retracement of the move up from 2001 at 0.7335, as noted by Karen Jones, chief analyst at Commerzbank. "Support at 0.7720 guards the 0.7627 recent low".